Institutional Conversions Coordinator II at Fifth Third Bank

Cincinnati, Ohio, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial ServicesIndustries

Requirements

Bachelor's degree in business, finance, accounting or related field or equivalent work experience
Preferred 4 years combined experience as a Global Custody Conversion Specialist or experience specific to the Financial Services industry
Proven excellent customer service skills - must be service-focused and oriented toward exceptional customer experience
Proven excellent written and verbal communication skills

Responsibilities

Partner with relationship management, new business officers, client consultants and client service managers from all Affiliates for accurate and timely conversion of new and existing custody business for the Bancorp
Communicate directly with the client, their business partners and their previous service providers to assure smooth transition
Organize and prepare global tax documentation and liaise between the Custody Administrator and BNY Mellon to ensure the client maintains favorable tax status in global markets
Adhere to internal department procedures and deadlines to ensure regulatory compliance and exemplary client service
Consistently deliver superior quality service to build the foundation of partnership between the client and the Bancorp that is built on mutual values, trust and goodwill
Serve as the backup to the Global Custody Services Supervisor and/or Global Custody Services Manager as needed and aid in compliance and internal reporting
Partner with New Business Officers, Relationship Managers, Client Consultants and Client Service Managers from all affiliates to establish conversion timelines
Educate clients, their business partners and interested parties on the conversion process
Coordinate the conversion with internal departments (Securities Settlements, Global Custody Administrators, Directed Trading, Securities Lending, Foreign Exchange, Fund Accounting, ISG Plan Servicing and Information Technology)
Serve as both the customer and their business partners' primary point of contact to ensure a seamless conversion of more complex accounts
Map and monitor all aspects of the transition by creating and customizing a step-by-step transition plan detailing all tasks and due-dates applicable to implementation from pre-conversion planning to post-conversion reconciliation
Initiate conference calls and document correspondence (phone, fax, mail and e-mail)
Prepare a pre-conversion (welcome) package containing all pertinent information needed by the customer
Obtain data from prior custodians, clients, investment managers, brokers, system vendors, DTC/Omgeo and consultants and update various systems accordingly
For domestic accounts, set up accounts on AMTrust by utilizing AMAdministrator and ensure that customer information has been entered into CIP database
For global accounts, set up an AMTrust if applicable. Complete BNY Mellon's account opening documentation. Complete BNY Mellon's country specific documentation for each global market that the customer requests participation
Interpret, complete and maintain necessary global tax documentation
Coordinate necessary steps to initiate interfaces with system vendors. Ensure that interfaces are available to the client the day after conversion
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined
Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience
While operating within the Bank’s risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types

Skills

Custody Services

Client Conversions

Global Tax Documentation

Regulatory Compliance

Risk Management

Customer Service

Conversion Timelines

Institutional Banking

Fifth Third Bank

Provides banking, loans, and wealth management services

About Fifth Third Bank

Fifth Third Bank offers a variety of financial services, including personal and business banking, loans, mortgages, credit lines, and insurance products. Their services cater to individual consumers, small businesses, and commercial clients, providing comprehensive solutions for managing finances. The bank generates revenue through interest on loans, service fees, and commissions from insurance and investment products. Unlike many competitors, Fifth Third Bank emphasizes community engagement and financial education, providing resources to help clients improve their financial literacy. The goal of Fifth Third Bank is to support clients in achieving their financial objectives while fostering a strong connection with the communities they serve.

Cincinnati, OhioHeadquarters

1858Year Founded

IPOCompany Stage

Social Impact, Financial ServicesIndustries

10,001+Employees

Benefits

Health Insurance

Paid Sick Leave

Paid Holidays

Performance Bonus

Flexible Work Hours

Risks

Rising interest rates may decrease demand for loans and mortgages.

Competition from fintechs like Robinhood threatens Fifth Third's wealth management sector.

Sophisticated cybersecurity threats pose risks to customer data and trust.

Differentiation

Fifth Third Bank offers comprehensive financial solutions for individuals and businesses.

The bank emphasizes community engagement and financial education for client empowerment.

It provides a wide range of insurance products, including life, health, and disability.

Upsides

Increased demand for digital banking boosts Fifth Third Bank's online service offerings.

Partnerships with fintech enhance technological capabilities and customer experience.

Growing interest in sustainable finance attracts environmentally conscious customers.

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